2017

Market Turnaround in 2017

When looking at all property types in Hamilton-Burlington in 2017, compared to 2016 there were 5.9% less home sales, however the total dollar volume reached a new high of $8,972 billion (a 14.4% increase). Listings were up 15.4%, average days on market were 10% less. Which basically means this, we had more homes being listed, sales dropped a bit, but the homes that got sold were going quicker, and for a higher prices.

“The real estate market in 2017 was notable for the abrupt change through the spring,” noted RAHB CEO George O’Neill. “The market went from a strong, prolonged seller’s market, where the average time to sell a property was 14 days, to a more balanced market where buyers had more time to view and compare properties before putting in an offer to purchase.”

Each of the first four months of year had record sales for those months,” added O’Neill. “At the time, there were few listings on the market, with less than a month of inventory. In April, however, we saw the first glimpse of a turnaround, when we had more listings than average come onto the market. That did not translate into immediate relief for the market, as we still had record sales for the month. It was after that point we began to see higher-than-average new listings and lower-than-average sales.”

2017 RAHB year end stats page 1 2017 RAHB year end stats page 2

You can download RAHB year end stats report here.

Looking to sell your home? Or buy a first time home, or move up, or downsize? Let Lori VanDinther, RE/MAX Sales Representative guide you through the process and help you make the right moves. With over 23+ years of successfully selling real estate in Burlington/Hamilton area, Lori has the experience and market knowledge. Contact Lori today.

Recreational Property 2017 stat

2017 RE/MAX Recreational Property Report

RE/MAX released their annual Recreational Property Report for 2017, and here are 3 interesting facts:

  • 43% of Canadians would consider buying a cottage or some type of recreational property in the next 10 years.
  • 28% of Canadians with children under the age of 18 would consider selling their primary residence in order to help finance the dream recreational property.
  • 56% of Canadians spend time at a cottage to find peace and quiet.

There is also a trend for people to consider fractional ownership, by buying the recreational property with a friend, a family member or by renting out on websites like AirBnB.

A large number of recreational property buyers are young families with children and retirees, who are selling their homes and in turn buying cottages.

But they’re not the only group expressing interest in recreational property ownership. A Leger’s survey of Canadians, showed that 65% of millennials are planning to buy a cottage, cabin or ski chalet in the next 10 years. Some of them would consider this as an investment vehicle too.

Featured recreational property locations in Ontario are:

  • Thunder Bay
  • Manitoulin Island & The French River
  • Lake Huron
  • Georgian Bay
  • Lake Simcoe & Area
  • Muskoka & Haliburton
  • Peterborough & The Kawarthas
  • Rideau Lakes Region

See the full 2017 RE/MAX Recreational Property Report.

Burlington scored best mid-sized city in Canada – Fifth year in a row

July 4th 2017 was a proud day for all Burlington residents, and all those in the past and present working hard to make Burlington, a true gem of a city! According to MoneySense, Burlington is best mid-sized city in Canada and the second best city in Ontario to live in.

MoneySense uses their own methodology to establish a comprehensive data-driven snapshot of Canadian cities and towns, taking into account things like demographics, unemployment, income & wealth, affordability, taxation, mobility, crime, weather, health care, amenities, culture & community. This year was their 14th edition and they’ve included even more cities in the report, about 417 cities to be exact.

Burlington scored high with having low crime, great weather and high wealth and incomes. It is also considered a top place to retire and a welcoming place for new Canadians.

Here is a summary of their 2017 reports (looking at Ontario and how Burlington compares):

Burlington is 2nd best place to live in Ontario after Ottawa.

Burlington  is 4th best place to retire in Ontario, after Ottawa.

Burlington is 7th best place for weather in Ontario after Thorold.

Burlington is 14th best place for new Canadians in Ontario, after Ottawa.

Burlington is 20th best place to raise kids in Ontario, after Oakville.

Overall, Burlington scored well and is an awesome city to live, work and play in. The city has come a long way and it’s continuously improving and growing. There are new developments all around, infrastructure upgrades, social and cultural programs underway. It’s a thriving city that’s got something for everyone. Situated between Toronto and Niagara Falls, well connected to all the major highways, positioned by lake Ontario – Burlington real estate is a good choice.

Burlington Mayor, Rick Goldring commented on MoneySense 2017 best places to live in Canada report: “There are many moving parts that go into creating a city, from economic prosperity to cultural vibrancy, from preserving history to building healthy communities. This is an acknowledgement of all of the people, past and present, who have worked to make Burlington the great city it is today.”

For all your Burlington real estate needs, be it buying or selling a home, contact Lori VanDinther and the team to help you make the right moves.